Ameriprise Financial, Inc. $AMP Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 23.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 8,273 shares of the financial services provider’s stock after purchasing an additional 1,596 shares during the quarter. Private Advisor Group LLC’s holdings in Ameriprise Financial were worth $3,677,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. SouthState Bank Corp increased its position in shares of Ameriprise Financial by 78.6% in the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $30,000. Ares Financial Consulting LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at $32,000. Prosperity Bancshares Inc acquired a new stake in Ameriprise Financial in the 4th quarter valued at $33,000. Finally, WFA of San Diego LLC purchased a new stake in Ameriprise Financial in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on AMP shares. BMO Capital Markets increased their price objective on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Weiss Ratings cut shares of Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Morgan Stanley upped their price target on shares of Ameriprise Financial from $452.00 to $467.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating on the stock. Finally, Piper Sandler boosted their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $543.22.

Ameriprise Financial Price Performance

AMP stock opened at $489.54 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $44.01 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16. The business has a 50 day simple moving average of $463.80 and a 200-day simple moving average of $472.66.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $9.50 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 43.01 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. Ameriprise Financial’s dividend payout ratio is presently 16.91%.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the sale, the director owned 6,300 shares of the company’s stock, valued at approximately $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gerard P. Smyth sold 6,255 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the sale, the executive vice president owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.